OPEC: Updates to Bullish Oil Calls
Stock Traders Daily has updated its buy ratings on Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Schlumberger Limited. (NYSE:SLB), BP plc (ADR) (NYSE:BP), and Baker Hughes Incorporated (NYSE:BHI). These buy ratings were made on November 2, 2016 in advance of what appeared to soon be a favorable environment for oil companies and oil prices. Calls were distributed to clients, through Reuters, First Call, and Zacks.
In addition to these, Stock Traders Daily also placed a STONG buy rating on UCO.
Details and prices targets are available to subscribers.
Long Term Trading Plans for CVX
November 30, 2016, 11:03 am ET
The technical Summary and associated Trading Plans for CVX listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for CVX. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
CVX - (Long) Support Plan
Buy over 105.52 target 111.65 stop loss @ 105.26.
The technical summary data tells us to buy CVX near 105.52 with an upside target of 111.65. This data also tells us to set a stop loss @ 105.26 to protect against excessive loss in case the stock begins to move against the trade. 105.52 is the first level of support below 111.57 , and by rule, any test of support is a buy signal. In this case, support 105.52 is being tested, a buy signal would exist.
CVX - (Short) Resistance Plan
Short under 111.65 target 105.52 stop loss @ 111.91
The technical summary data is suggesting a short of CVX as it gets near 111.65 with a downside target of 105.52. We should have a stop loss in place at 111.91 though. 111.65 is the first level of resistance above 111.57, and by rule, any test of resistance is a short signal. In this case, if resistance 111.65 is being tested, a short signal would exist.